Ken, WHO the hell taught you retracement theory? Who the hell he is I want to know?????
Is there any such theory called "retracement theory"???? I want to know also.
Market up up and down down a few days of down tick makes some people so impatient.
Gold had correction down from that $339 DEC contract down to today $306.50 ; closed at $309.50; and only less than 3 weeks of correction.
Any commodity or security, price movement is subject a good correction, there is no such theory "retracement theory", it is an observation not theory at all. A theory is by all means, any security or commodity price will follow such theory "retracement" theory, if there is such theory, everyone will be multiple millionaire already.
Use you common sense and observation to judge market up and down and down and up.
decisionpoint.com
XAU big open gap, I see that it is not even get closed yet, despite it is getting close to close it up, but gold $305 will gain strong support, I still see that gold bull up trend intact.
decisionpoint.com
DOW still in that big bear trend, despite today a bit weak of Housing Start and CPI numbers, DOW rallied nearly more than 250 pints and closed only up 88 points at 10,204 this kind of rally is a bear rally. Soon DOW will break that 10,000
decisionpoint.com
DXY, U.S. dollar index is also in the bear trend, soon DXY will be in that .91
Having said that, it is rather easy for gold to move back up to that $339 again, and will break through it when Dow at 9,700 DXY at 95 etc.....
Market up up and down down, it needs patience to see through it.
John Paquet |
